S&P 500: Short strategy was a big mistake

 


As expected, the S&P 500 rallied 1.44% on Tuesday after the index broke through its 50-day EMA as buyers stepped in. The VIX has moved back below its 50-day MA. The spread between the 2-year treasury yield and its 600-day EMA is 1.29%, meaning there will be no recession any time soon. The next resistances for the S&P 500 are at 4,580 and 4,640, respectively.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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